Kohl’s Corp (KSS.N) on Friday adopted a shareholder rights plans to protect itself from hostile takeovers, days after receiving buyout offers that the retailer said undervalued it.
Last month, activist investor Starboard Value-backed Acacia Research Corp (ACTG.O) offered to buy the department-store chain for $64 a share, valuing it at roughly $9 billion.
Around the same time, sources told Reuters that Sycamore Partners was also preparing an all-cash offer for Kohl’s at $65 per share.
Source: Reuters
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 